Mercury Auto Insurance: Understanding Your Coverage Options

Mercury Insurance offers a range of auto insurance coverage options, including liability protection, collision protection, comprehensive coverage, and uninsured/underinsured motorist coverage. The cost of Mercury auto insurance depends on various factors, such as the vehicle, location, driving record, age, and marital status. On average, Mercury's auto insurance costs around $2,023 per year, which is higher than the national average. The company also offers additional coverage options, such as emergency roadside assistance, rental car insurance, and ride-hailing insurance. It's important to note that Mercury auto insurance is only available in 11 states.

Liability protection

Liability insurance covers two categories of damage: bodily injury liability (BI) and property damage liability (PD). The Insurance Information Institute suggests that drivers carry liability coverage that is no less than $100,000/300,000/50,000. Other insurance industry experts recommend a minimum of $50,000 in property damage liability coverage.

Liability coverage limits are generally written as three numbers, such as $25,000/50,000/15,000. The first figure is the maximum amount the company will pay for a single injury; the second figure is the maximum amount the company will pay per accident for all injuries; and the third figure is the maximum amount the company will pay per accident in property damage.

If you are found to be at fault, your liability insurance will help cover the cost of vehicle repairs, medical expenses, and other related expenses for the other driver(s). If another driver is at fault, their liability insurance will cover these expenses for you.

It is important to note that liability insurance is required in most states to make driving financially safe for everyone on the road. Failure to have the required amount of insurance may result in fines and the state may even revoke your license and registration.

Collision protection

When you make a claim under collision protection, your insurance company will assess the damages to your car and pay for the repairs. You will only need to pay the deductible, which is the out-of-pocket expense you agree to pay per loss before any payment from the insurance company is distributed. Deductibles typically range from $0 to $2,000, with the most common limits being $250, $500, and $1,000. The higher the deductible, the lower the corresponding coverage premium.

If your vehicle is considered "totaled," meaning the repair costs exceed a certain threshold of the vehicle's value, collision coverage will protect you and your lending institution up to the actual cash value or "fair market value" of the vehicle. In this case, your deductible will still apply.

To avoid paying the difference to the lender out of pocket if the vehicle depreciates more quickly than the value of your loan, you can purchase gap insurance. Gap insurance covers the difference between the vehicle's actual cash value and the sum owed to the lender.

Comprehensive coverage

If you're leasing or financing a vehicle, your lender will likely require you to purchase comprehensive coverage. If you own your vehicle outright, comprehensive insurance is optional. However, consider the value of your vehicle. If it were damaged or stolen, comprehensive insurance may be a good investment to protect against the financial burden of repair or replacement costs.

In some states, comprehensive coverage includes glass replacement with no deductible, but this varies by state, so it's important to ask about the specifics when purchasing a policy.

Mercury Insurance offers comprehensive coverage as part of its auto insurance plans. You can work with one of their agents to develop a tailored protection plan that fits your specific needs and budget.

Medical coverage

Medical Payments Coverage is a supplemental coverage option offered by Mercury Auto Insurance that can be added to an existing auto policy. This coverage helps pay for medical expenses arising from a covered accident, including injuries sustained by the driver and/or their passengers, as well as injuries sustained by the driver as a pedestrian. It is important to note that coverage benefits and restrictions may differ depending on the state, so it is advisable to consult with an insurance agent for specific details.

Medical Payments Coverage is particularly useful in the event of a collision, where it can help cover the cost of medical bills for both the driver and their passengers. This coverage is applicable regardless of who is at fault in the accident. For example, if a driver with Medical Payments Coverage collides with an uninsured driver and sustains injuries, their medical expenses will be covered under their policy.

In addition to Medical Payments Coverage, Mercury Auto Insurance also offers Personal Injury Protection (PIP) as part of their coverage options. PIP provides similar benefits by helping to pay for medical costs and other expenses after a car collision, regardless of who is at fault. PIP can provide added financial protection in the event of an accident, ensuring that the insured individual receives the necessary medical care without incurring significant out-of-pocket expenses.

The cost of auto insurance, including medical coverage, depends on various factors such as the vehicle, location, driving record, age, and marital status. Mercury Auto Insurance allows customers to customize their coverage options and create a policy that suits their specific needs. By speaking to a Mercury agent or using their online resources, individuals can determine the appropriate level of medical coverage required for their situation.

Overall, Medical Payments Coverage and Personal Injury Protection offered by Mercury Auto Insurance provide valuable financial protection in the event of accidents, ensuring that individuals can access the necessary medical care without incurring excessive expenses. By understanding the coverage options available and seeking guidance from Mercury agents, customers can make informed decisions about their auto insurance choices.

Uninsured/underinsured coverage

Uninsured/underinsured motorist coverage is an important aspect of auto insurance, providing financial protection in the event of an accident with a driver who has insufficient or no insurance. Mercury Insurance offers comprehensive uninsured/underinsured motorist coverage to safeguard its customers from unforeseen expenses.

Uninsured motorist coverage comes into effect when the other driver involved in the accident does not have any auto insurance, which is against the law in every state except New Hampshire. This type of coverage is segmented into two categories: uninsured motorist bodily injury (UMBI) and uninsured motorist property damage (UMPD). UMBI covers reasonable medical expenses, pain and suffering, and loss of earnings for the insured driver and passengers resulting from the accident. UMPD, on the other hand, covers repairs or replacement of the insured vehicle if it is damaged by an uninsured motorist.

Underinsured motorist coverage, meanwhile, applies when the at-fault driver has insurance but their coverage limits are insufficient to pay for all the damages caused by the accident. This includes both underinsured motorist bodily injury (UIMBI) and underinsured motorist property damage (UIMPD) coverage. UIMBI helps cover additional medical expenses, pain and suffering, and lost wages that exceed the at-fault driver's policy limits. UIMPD covers the cost of repairing or replacing the insured vehicle when the at-fault driver's insurance is inadequate to cover the full extent of the damage.

It is worth noting that uninsured/underinsured motorist coverage may not be available in all states and could be limited to bodily injury only. Additionally, this coverage typically requires verification of the identity of the driver and/or vehicle involved to determine their insurance status. Mercury Insurance recommends that customers discuss their options with an agent and review their policy provisions to ensure they have adequate protection.

In summary, uninsured/underinsured motorist coverage from Mercury Insurance provides valuable protection against financial burdens resulting from accidents with uninsured or underinsured drivers. By offering coverage for bodily injury and property damage, Mercury helps ensure that its customers can receive the compensation they need to recover from these incidents.

Frequently asked questions